New Issue: Barclays prices $1 million more 15.5% reverse convertibles on BofA

By Jennifer Chiou

New York, Dec. 22 - Barclays Bank plc priced another $1 million of 15.5% annualized reverse convertible notes due May 31, 2012 linked to Bank of America Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

This brings the total amount to $1.3 million.

The payout at maturity will be par in cash unless Bank of America shares fall below the protection price of $3.60, 70% of the initial price of $5.14, during the life of the notes and finish below the initial price in which case the payout will be 194.552529 shares of Bank of America stock.

Barclays Capital Inc. is the agent.

Issuer:	Barclays Bank plc
Issue:	Reverse convertible notes
Underlying stock:	Bank of America Corp. (Symbol: BAC)
Amount:	$1.3 million (up from original $300,000)
Maturity:	May 31, 2012
Coupon:	15.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Bank of America shares fall below the protection price of $3.60, 70% of the initial price, and finish below the initial price, in which case 194.552529 shares of Bank of America stock
Initial price:	$5.14
Protection price:	$3.60, 70% of initial pricfe
Exchange ratio:	194.552529
Pricing date:	Nov. 23 for original $300,000; Dec. 21 for add-on
Settlement date:	Nov. 30 for original $300,000; Dec. 27 for add-on
Agent:	Barclays Capital Inc.
Fees:	2%
Cusip:	06741JPL7

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